Business

MP accuses United Bank of corruption

MP accuses United Bank of corruption

Independent member of parliament Gamal Zahran submitted an early day motion to the prime minister and minister of investment about…
Egypt improving on competitiveness

Egypt improving on competitiveness

Egypt moved up to 70th position on the general competitiveness indicator for 2010, from 81st position in 2009, according to…
Telecom Egypt looking to buy Vodafone Egypt

Telecom Egypt looking to buy Vodafone Egypt

Vodafone International is currently in negotiations to sell Vodafone Egypt, with the value of the sale estimated at approximately LE24.3…
Trade Ministry learns of tax increases from newspapers

Trade Ministry learns of tax increases from newspapers

The Ministry of Trade and Industry learned of the increased taxes on iron, cement and cigarettes from newspaper articles, said…
Egypt stock market down by 4%

Egypt stock market down by 4%

Egyptian stocks saw a collective drop amid a similar downturn in global markets fueled by fears that the fall out…
Private sector allowed to secure energy for power stations

Private sector allowed to secure energy for power stations

Alexandria--Petroleum Minister Sameh Fahmy announced his ministry's approval to allow the private sector to secure as much energy as is…
Cement traders lower prices to offset poor sales

Cement traders lower prices to offset poor sales

Cement sales have declined sharply due to slower building and construction activity throughout Egypt.The drop in demand has prompted several…
Taxes to be raised on steel, cement, cigarettes

Taxes to be raised on steel, cement, cigarettes

Parliament's planning and budget committee on Tuesday approved funding of LE7.5 billion for the 2010/11 state budget, of which LE2…
Low sales force iron factories to cut prices

Low sales force iron factories to cut prices

Iron factories reduced their prices by LE200-300 in mid May due to a sharp decline in sales during the months…
Businessman fails to pay debts to Misr Bank

Businessman fails to pay debts to Misr Bank

Rami Lakah, a businessman who fled to Europe in 2001 and returned to Egypt recently, hasn't yet repaid the first…
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